Hennes & Mauritz Comparable Sales Surge 3% In June

Swedish retailer Hennes & Mauritz AB HNNMY reported a 3% rise in its sales at stores open for at least a year in June. Analysts were expecting a 4.6% rise in comparable sales. Its total sales, including VAT in local currencies, gained 13% y/y in June, versus analysts' expectations for a 13.8% gain. Hennes & Mauritz shares closed at $7.08 on Friday.